Working in marketing without any official marketing education has led me to a healthy dose of imposter syndrome. They say millennials suffer from this more than previous generations and it’s easy to understand why. There have never been more jobs out there. In the marketing field, especially, there are all sorts of niche positions to fill, not just within the marketing field but you can drill down many multiple levels in the digital marketing field alone. Customer journey, email, social media, etc. The list is almost endless. I don’t even know most of the acronyms associated with marketing. I did learn a new one today that put things into perspective for me a bit. CPM. It stands for Cost per thousand. Not a typo.
Temperature: 75 f | Wind Speed: 8 mph | Miles this month: 15.98m | Miles this year: 311.73m (1,709.27m to go)
Ignore the fact that Thousand doesn’t start with an M for a second. Cost per thousand refers to how much it is to get your ad seen 1,000 times. The thing that makes this acronym more confusing is that the M originally stood for Mile – Cost per Mile. I do quite a bit of cycling so I can say with a fair degree of confidence that one mile does not equal one thousand anything. Is it any wonder that one might feel like they have no idea what is going on? With a little more research, I realized the M stands for ‘mille’ which is Latin for ‘thousand’ which explains a little more but is still incredibly stupid.
Are hobbies expensive?
The whole thing did get me wondering a little about my own Cost per Mile and what metric I would actually use to calculate it. Since I bought my new bike in 2019 and started taking my cycling seriously, I have cycled a total of 2,062 miles. If I take into account the purchase of bicycles, accessories, spare tubes, helmet, and clothing, I have spent somewhere in the region of $2,450. This does include the second bike I bought very recently. I have luckily received a lot of cycling related gifts which kept this price down a little. That puts my CPM around $1.19.
If I don’t spend another penny on bike related items this year and I hit my target mileage goal, I could bring the CPM down to 65c. I probably couldn’t have picked a worse time to calculate my CPM considering I just bought a bike, did a big tune up on another, and got some new clothes for the summer to. Here’s hoping that number never goes about $1.19.